VERTICES PARTNERS represented its client Demi-fine Fashion Private Limited [Palmonas], as it raised INR 55 Cr [USD 6.3 Million] in Series A Funding Round led by Vertex Ventures Southeast Asia & India (SEAI). It plans to use the fresh capital to strengthen its 9kt gold demi-fine collection, open 100 new stores in the next 12 months and expand into newer categories. Palmonas has earlier raised funds in the angel round in 2023 and investment from Namita Thapar and Ritesh Agarwal on Shark Tank India Season 4.
The transaction was led by Equity Partner, Vikrant Anand along with a team that included Associate Manager Nisha Dharod and Associates Liji Anna Thomas and Hemant Srivastava. Founder and Managing Partner Vinayak Burman provided strategic inputs.